LOSS AND DAMAGE FINANCE: A FRAMEWORK FOR COMPLEMENTARITY AND COHERENCE

The 28th Conference of the Parties (COP28) established a historic agreement to operationalise the Fund for Responding to Loss and Damage (FRLD), including new funding arrangements for addressing loss and damage (L&D). The COP28 decision also set up a Board to govern the FRLD, tasked with developing an operational framework for coherence and complementarity in responding to L&D by 2025. This framework aims to ensure that the FRLD’s activities, along with both new and existing funding arrangements for L&D, are utilised fully and effectively. Moreover, the first annual high-level dialogue on coordinating and coherence of L&D funding arrangements (HLD) took place on 25th of April on the margins of the World Bank and International Monetary Fund (IMF) Spring Meetings. The Board’s work on the complementarity and coherence framework is linked to its work on standard procedures which includes the HLD that will be co-convened by the Board and the UN Secretary-General. This paper proposes key structural elements, objectives, and a follow-up process for an operational complementarity and coherence framework and the additional funding arrangements for L&D for the FRLD. These recommendations aim to optimise the time available ahead of COP 30 to provide effective guidance.